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Car Donation in Portland, Oregon:Do you want to donate your car to charity? There are lots of organizations that will accept your vehicle so that you can take the tax deduction on your income tax returns. I was looking to donate my automobile (a 1993 Saturn SL2) and wanted to find a good place here in Portland, Oregon. Portland has lots of spots to choose from and after some careful research, I decided to go with the Portland Rescue Mission. It wasn't so much about the tax deduction for me as it was about where the money from the sale of the car would go. Other non-profits like Goodwill and the Salvation Army will also take car donations, so keep them in mind as well. We will go into the process a bit more down below, but in general it's fairly simple and easy to do. Portland vehicle donations are on the rise, per the employee I talked to. Many of these organizations take care of thousands of auto donations each year. I thought I would be the one guy they had in during the week, but I was wrong.
Donate a Car - What is the Process?:Donating a car in Portland was as easy as calling the Portland Rescue Mission and finding out where they wanted me to bring the car. Even if your car is not running, you can still have them come out to your residence and tow the car for free. You can donate more than just cars, they take trucks, boats, trailers, RV's, you name it. The vehicle donations are tax deductible so that is why many people choose to go this route. The first step is making the phone call and then they will walk you through the rest. You need the title to the car, but supposedly that is not required. I had the title to the car, so I was all set. Donating a car to charity is a "feel good experience" in my mind and I would definitely do it again down the road. I drove my car up to their office on 92 Avenue and filled out a bit of paperwork. They took down the vehicle information and got a list of problems with the car. They have a fix it shop with mechanics on site to try to make your car sellible. The AC was broken on my Saturn and a few minor things needed a quick repair, so they were happy with the overall condition of the vehicle. I took the immediate $500 valuation for tax purposes and that way didn't have to submit more paperwork withy my social security # to the IRS. It seemed like more of a hassle, so I choose the easier way. If your vehicle has a value of over $1000, consider giving your SS # to get full valuation. The entire process took about 30 minutes for me, and it ended with me signing over the pink slip to the Rescue Mission and I was off. Painless and easy. Just the way any donation should be.
How Much Tax Deduction for Donating a Car?:I always heard that donating your car to charity would get you a big tax deduction. Don't believe everything you hear I would say. The vast majority of cars that are donated have little value to the owners, so the deduction is fairly small. In my case, the case had a KBB value of maybe $1200, so the deduction would have been small if I had taken the option to let them sell it for me and base the deduction off the sale price. I went with the $500 instant valuation and kept it simple. Either way, I may have saved a $100 to $300 on my federal taxes. It all depends on what tax bracket you are in, if you itemize on your tax returns, etc. The IRS handles car donations with certain forms that need to be filled out before you can file for the deduction. It's not complicated, but your tax professional may charge for that particular form if they need to fill it out. Also, make sure that the organization you give the car to is a 501 (c)(3) not-for-profit organization. The IRS publishes a list to go off of which should point you in the right direction. Beyond getting a tax deduction, I would hope you are donating a car to help someone else out who is less fortunate than you.
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